Bookkeeping
Sales, purchases, expenses, bank and cash entries posted monthly in your software or one we set up.
Services · Books, MIS and reporting
Accounting and Financial Reporting
Every return, loan application and business decision starts from the books. Our accounting department keeps them current every month, turns them into MIS reports, and prepares year-end financial statements that are ready for audit.
Delivered by Auditzoid Business Consultancy
Who we work with
Clients of this department
- Manufacturers and traders without a full-time accountant
- Gold and jewellery businesses with stock-heavy books
- Hospitals, clinics and pharmacies
- Schools, colleges and trusts with fund accounts
- Startups that need investor-grade reporting
- Businesses whose own accountant needs review and support
What you receive
What arrives on your side
- Books updated every month
- Bank, party and GST reconciliations
- A monthly MIS pack of sales, margins, receivables and cash
- Year-end financial statements ready for audit
- Financial analysis notes for owners and lenders
Scope
The work this department handles
MIS reporting
Monthly reports on sales, margins, receivables, payables and cash, in a format your team agrees on.
Reconciliations
Bank, customer, supplier and GST credit balances matched to statements and portals.
Payroll
Salary computation, payslips, TDS on salaries, PF and ESI, and annual statements for employees.
Financial statements
Finalisation entries, schedules and statements in the Schedule III format or the format your entity needs.
Financial analysis
Ratio, margin and working-capital analysis for owners, lenders and investors.
Inventory and fixed assets
Stock records reconciled with physical counts, and asset registers with depreciation.
Trusts, schools and hospitals
Receipts and payments, income and expenditure, and fund-wise records for institutions.
How it works
From first call to finished filing
- Set upChart of accounts, opening balances and the monthly routine are agreed.
- PostDocuments are posted within the month they arrive.
- ReconcileBalances are matched and questions come back to you in one list.
- ReportYou receive the MIS pack and, at year end, the financial statements.
Before we start
Documents you will usually need
- Bank statements for every account
- Sales and purchase invoices
- Expense bills and vouchers
- Attendance and salary inputs
- Loan statements and asset purchase bills
The exact list depends on your case. We send a checklist after the first discussion.
Questions
Common questions
Which accounting software can we use?
Any software that keeps an edit log. Companies must use accounting software that records an audit trail of every change, which cannot be disabled (proviso to Rule 3(1), Companies (Accounts) Rules, 2014, from 1 April 2023). We work in your software or set one up.
Who is required to maintain books of account?
Companies under Section 128 of the Companies Act, 2013, and businesses and professionals above the limits in Section 44AA of the Income-tax Act, 1961 and Rule 6F. LLPs maintain books under Section 34 of the LLP Act, 2008.
How long must books be kept?
At least eight years for companies (Section 128(5), Companies Act, 2013) and for LLPs (Rule 24(10), LLP Rules, 2009). For GST, records are kept for 72 months from the due date of the annual return (Section 36, CGST Act, 2017).
When does a payment to an MSME supplier become a tax problem?
Under Section 43B(h) of the Income-tax Act, 1961, dues to micro and small enterprises are deductible only when paid within the time in Section 15 of the MSMED Act, 2006 (up to 45 days with an agreement). We track this in the books every month.
Is salary data kept confidential?
Yes. Only the staff assigned to your payroll can see it, and it is never shared outside the engagement.
Our books are a year behind. Where do we start?
We bring the backlog up to date in month order first, then move you to the monthly routine.
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